🔎 Disclosure: WE DON’T SELL ANY COURSES. Money Vice is reader-supported. When you buy through our links, we may earn a commission at no extra cost to you. The ideas presented on this site are opinions and are presented for entertainment purposes only. We’re not licensed financial advisors. The information presented should not be construed as financial or legal advice. Always do your own due diligence.
1. Know Exactly Where Your Money Goes
Have you ever looked at your bank account and wondered, “Wait… where did all my money go?”
It’s like your paycheck vanishes faster than a mojito on a hot Miami afternoon.
Truth is, you can’t fix what you can’t see, and that’s why tracking your spending is your first real move toward getting debt-free.
Once you start seeing every swipe, subscription, and little “treat yourself” moment, things get real fast.
Suddenly, you realize Starbucks might be your biggest creditor.
👉 Here's How You'll Do It: Use a free app like Rocket Money to automatically track your expenses and categorize them by type so you can see exactly where your cash disappears every month.
📌 SAVE IT FOR LATER! 📌
2. Start Spending Less on Stuff You Don’t Need
You know that weird thrill you get when Amazon says, “Your package has shipped”? Yeah, that’s the debt trap in disguise.
Most of what drains your wallet isn’t survival. It’s convenience, boredom, or “I deserve this” syndrome.
Cutting back doesn’t mean living like a monk; it means picking your splurges wisely.
Buy less junk, and suddenly, your money starts staying in your account longer than 48 hours.
You’ll realize how good it feels not to owe your happiness to delivery notifications.
👉 Here's How You'll Do It: Before you buy something, add it to your cart and wait 24 hours; if you still want it, get it. If not, congrats, you just saved cash.
3. Pay More Than the Minimum Each Month
Paying just the minimum is like trying to drain a pool with a coffee mug.
It technically works, but you’ll be there until retirement.
When you pay more. Even a little. You attack the actual principal, not just the interest.
The smaller your debt, the less interest piles up, and suddenly, you’re in control, not your lender.
You’ll start seeing progress faster, and nothing feels better than watching a balance actually shrink for once.
👉 Here's How You'll Do It: Use the Debt Snowball Method. List your debts from smallest to largest and throw every extra dollar at the smallest one first using Undebt.it (it automates the whole plan for free).
Bonus Tip: Track Your Debt Payoff Progress In One Place
You know that rush you get when you cross something off a to-do list?
Now imagine that feeling every time you pay down a chunk of debt.
Tracking your progress isn’t just about numbers. It’s about staying motivated when the grind starts to feel endless.
That’s where Undebt.it comes in. It’s a free tool that helps you build your own debt payoff plan (like the Debt Snowball Method) and shows your progress in real-time, so you can actually see how close you are to freedom.
👉 Here's How You'll Do It: Sign up at Undebt.it, plug in your debts, pick the Debt Snowball Method, and watch your payoff chart grow every month. It’s like turning your financial comeback into a personal scoreboard.
4. Use Extra Income to Pay Debt Faster
You’d be surprised how many ways exist to make a few extra bucks without quitting your day job.
Sell that treadmill collecting dust or those sneakers you wore twice.
Even small wins. Like $50 here or $100 there. It can wipe out debts faster than you think.
You don’t need a miracle; you just need momentum.
Each extra dollar is a mini punch to your debt’s face.
👉 Here's How You'll Do It: Use Facebook Marketplace or Poshmark to sell extra stuff and instantly transfer that cash toward your smallest debt balance.
5. Build a Small Emergency Fund for Unexpected Bills
Here’s the thing. Life happens.
Flat tires, surprise medical bills, that one friend’s “birthday dinner” that turns into a $100 tab.
Without an emergency fund, you end up right back in the debt spiral.
Even $500 can keep you from pulling out the credit card again.
Think of it as your personal “anti-chaos” fund. It keeps the peace when life throws shade.
👉 Here's How You'll Do It: Open a free high-yield savings account like Betterment Cash Reserve and automate $20–$50 a week until you hit $500, then chill knowing you’ve got a safety net.
📌 SAVE IT FOR LATER! 📌
And that’s it!
Never forget it…
🍔 A Bigger Bank Account Is Waiting For You!
😉 Dale!
